ING Groep (NYSE:ING) Shares Sold by Bank of America Corp DE

Bank of America Corp DE trimmed its stake in shares of ING Groep (NYSE:ING - Free Report) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,405,994 shares of the financial services provider's stock after selling 117,090 shares during the quarter. Bank of America Corp DE owned 0.21% of ING Groep worth $116,052,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new position in shares of ING Groep during the fourth quarter worth about $14,375,000. Oppenheimer Asset Management Inc. increased its position in shares of ING Groep by 18.7% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 92,045 shares of the financial services provider's stock valued at $1,442,000 after purchasing an additional 14,476 shares during the last quarter. ABC Arbitrage SA acquired a new stake in shares of ING Groep in the 4th quarter valued at $10,129,000. Y Intercept Hong Kong Ltd lifted its position in shares of ING Groep by 97.4% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 51,922 shares of the financial services provider's stock worth $814,000 after purchasing an additional 25,624 shares during the last quarter. Finally, Boston Partners grew its stake in shares of ING Groep by 33.2% during the fourth quarter. Boston Partners now owns 166,401 shares of the financial services provider's stock worth $2,614,000 after purchasing an additional 41,457 shares in the last quarter. Hedge funds and other institutional investors own 4.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. The Goldman Sachs Group upgraded ING Groep from a "neutral" rating to a "buy" rating in a research note on Thursday, March 27th. Cfra Research upgraded ING Groep from a "moderate sell" rating to a "hold" rating in a research note on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy".

ING Groep Price Performance

Shares of NYSE:ING opened at $20.51 on Friday. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.13. ING Groep has a 12 month low of $15.09 and a 12 month high of $20.79. The firm has a market capitalization of $71.75 billion, a P/E ratio of 9.58, a P/E/G ratio of 6.42 and a beta of 1.15. The company's fifty day moving average price is $19.34 and its 200 day moving average price is $17.31.

ING Groep (NYSE:ING - Get Free Report) last posted its earnings results on Friday, May 2nd. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.07). The firm had revenue of $6.36 billion during the quarter, compared to analysts' expectations of $5.74 billion. ING Groep had a net margin of 28.30% and a return on equity of 11.81%. As a group, sell-side analysts predict that ING Groep will post 2.14 earnings per share for the current fiscal year.

ING Groep Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, May 9th. Stockholders of record on Friday, April 25th were given a dividend of $0.6526 per share. The ex-dividend date was Friday, April 25th. This is a positive change from ING Groep's previous semi-annual dividend of $0.17. This represents a dividend yield of 5.1%. ING Groep's dividend payout ratio (DPR) is 64.45%.

ING Groep Company Profile

ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. It operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. The company accepts current and savings accounts.

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